Swiss Re announced it has closed one of the largest cleantech private equity funds in Europe, the EUR 329 million European Clean Energy Fund.
The fund will provide mezzanine and equity capital to European clean energy projects. Institutional investors from Europe, Canada and the US participated in the fund. Swiss Re is the anchor investor in the Fund and acts as carbon advisor for the selected projects.
Jacques Aigrain, Swiss Re CEO, said, “The launch of the European Clean Energy Fund is part of Swiss Re’s commitment to the Clinton Global Initiative and another important step in our approach to tackle the issue of climate change. This Fund not only contributes to the progress of clean energy projects, it also aims to provide attractive returns to investors, while enhancing Swiss Re’s expertise in the environmental markets business, both in investments and carbon market services.”
The United Nations Economic Commission for Europe awarded the Fund a mandate under the Energy Efficiency 21 Project. This qualifies the Fund as an accredited investment vehicle within the UN system, which allows the Fund to participate in special project financing initiatives and to receive UN grant money for Kyoto Protocol and climate change related projects.
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